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treybo412
New Member

How much tax both federal and state should I withhold from taking a distribution from a beneficiary IRA? I am under 50 if that makes a difference.

 
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2 Replies
CatinaT1
Employee Tax Expert

How much tax both federal and state should I withhold from taking a distribution from a beneficiary IRA? I am under 50 if that makes a difference.

The amount of tax that you will pay on the distribution is based on your total income for the tax year.  Generally, you can ask to have 20% withheld.  Without knowing the amount of the distribution and your other income for the year, it is impossible to determine.

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How much tax both federal and state should I withhold from taking a distribution from a beneficiary IRA? I am under 50 if that makes a difference.

it depends on your income and tax bracket.

the distribution itself could push you into a higher bracket.

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